Huron, S.D. — June 3, 2026 — The U.S. Department of Agriculture (USDA) Rural Development has announced more than $8.6 million invested in Native American homeownership initiatives across South Dakota, expanding access to affordable housing on Tribal lands.
During a ceremony in Huron, State Director Lorraine Polak confirmed that Lakota Funds has signed loan closing documents to become the state’s third home loan lender under the Single Family Housing Direct Home Loans program. The $764,000 investment will provide working capital to finance home loans on the Pine Ridge Reservation, directly supporting Native families.
“Affordable housing is so important on our Tribal lands,” Polak said, noting that the initiative aligns with Agriculture Secretary Brooke Rollin’s commitment to expand access to capital and strengthen economic opportunities in Tribal communities.
Lakota Funds joins Mazaska Owecaso Otipi Financial, which has received nearly $3.1 million since 2018, and Four Bands, which has received more than $4.8 million since 2018, as part of the USDA’s Native Community Development Financial Institution Relending Demonstration Program. Since 2023, USDA Rural Development has invested more than $24.7 million across 12 states to expand home loan access.
The program provides loans and grants to improve quality of life in rural and Tribal areas, supporting housing, infrastructure, business development, schools, healthcare, and high-speed internet access. By partnering with Native-led financial institutions, USDA ensures that capital reaches communities most in need, helping families secure safe, affordable homes while strengthening local economies.
